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DSEX sinks to fresh three-year low

FE Online Report | Published: October 22, 2019 15:32:26 | Updated: October 23, 2019 12:00:29


The prime index of the Dhaka Stock Exchange (DSE) tumbled to more than three years low on Tuesday as investors dumped their holdings to prevent further losses.

DSEX, the prime index of the DSE, plunged 52.74 points or 1.11 per cent to settle at 4,708. It was the lowest level of DSEX since November 17, 2016.

The daily trade turnover on the prime bourse also dipped to Tk 2.88 billion as most of the investors were reluctant to make fresh investment in stocks amid ongoing bearish trend.

Turnover came down to Tk 2.88 billion, which was 18 per cent lower than the previous session’s turnover of Tk 3.50 billion.

Market analysts said investors’ low confidence to the market amid ongoing pessimism coupled with liquidity shortage and lack of market triggers kept them mostly inactive.

The market opened on downward trend and the downturn continued until end of the session with no sign of reversal.

Two other indices also ended lower. The DS30 index, comprising blue chips, fell 14.60 points to finish at 1,660 and the DSES (Shariah) index lost 8.56 points to settle at 1,080.

A total number of 96,565 trades were executed in the day’s trading session with trading volume of 97.26 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,561 billion on Tuesday, from Tk 3,588 billion in the previous day.

The losers took a strong lead over the gainers as out of 352 issues traded, 292 closed lower, 30 ended higher and 30 issues remained unchanged on the DSE trading floor.

National Tubes topped the turnover chart with shares worth Tk 144 million changing hands, closely followed by United Power, Monno Jute Stafflers, Silco Pharma and Eastern Insurance.

Golden Harvest Agro Industries was the day’s best performer, posting a gain of 9.32 per cent while Anlima Yarn was the day’s worst loser, losing 9.80 per cent.

The port city bourse, Chittagong Stock Exchange, ended lower with the CSE All Share Price Index – CASPI – slumping 162 points to settle at 14,320 while the Selective Categories Index –losing 97 points to finish at 8,708.

Here too, the losers beat the gainers as 193 issues closed lower, 26 ended higher and 21 remained unchanged.

The port city bourse traded 5.75 million shares and mutual fund units worth Tk 107 million in turnover.

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